michelle is back. what's going on down there? >> reporter: there's a lot going on down there this week. the parliament debates changes to its constitution to allow foreign investment in the oil industry. despite the protests that you saw, big changes are likely to occur providing big opportunities for major multinationals. 55 miles off the coast one of the few deep water drills controlled by the mexican government's oil and gas company. it is an exploration drill. what they really need is production drills, lots of them, to get to as many as 50 billion barrels of possible energy reserves they estimate to be in the deep waters of the gulf of mexico. carlos morales says quite simply they don't have the money. >> the investment required for the resources is huge. >> reporter: the required investment is $60 billion a year, to be exact. pemex spending $25 billion a year. it's a critical situation because mexico needs new sources of oil. production is down sharply in the last ten years from 3.5 million barrels a day to only 2.5 million